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Income tax
 12 Months Ended
Dec. 31, 2022
Statement [LineItems]  
Income tax
18 Income tax
 
     
Note
       
            2022
                    2021 
1)
                    2020 
1)
  
         
Current tax
                                          
Current year
                 (6 )         (18 )         (23 ) 
         
Adjustments to prior years
   
 
 
 
        (3 )         (6 )         (24 ) 
               
 
(9
) 
     
 
(24
) 
     
 
(47
) 
Deferred tax
   
 
40
 
                                 
         
Origination / (reversal) of temporary differences
                 (540 )         163          (309 ) 
         
Changes in tax rates / bases
                 (2 )         (39 )         (11 ) 
         
Changes in deferred tax assets as a result of recognition / write off of previously not recognized / recognized tax losses, tax credits and deductible temporary differences
                 8          (5 )         12  
         
Non-recognition
of deferred tax assets
                 9          9          7  
         
Adjustments to prior years
   
 
 
 
        16          (9 )         11  
 
   
 
 
 
     
 
(509
) 
     
 
119
 
     
 
(289
) 
Income tax for the period (income) / charge
   
 
 
 
     
 
(518
) 
     
 
95
 
     
 
(336
) 
 
1
 
Amounts for 2021 and 2020 have been
re-presented
to reflect the classification of Aegon the Netherlands as held for sale and discontinued operations, refer to note 51 Discontinued operations.
 
Reconciliation between standard and effective income tax:
   
            2022
                    2021 
1)
                    2020 
1)
  
Result before tax from continuing operations
      (1,543 )         1,164          (958 ) 
       
Income tax calculated using weighted average applicable statutory tax rates
      (329 )         231          (218 ) 
       
Difference due to the effects of:
                               
       
Non-taxable
income
      (116 )         (57 )         (54 ) 
       
Non-tax
deductible expenses
      12          21          21  
       
Changes in tax rate/base
      (2 )         (39 )         (11 ) 
       
Different tax rates on overseas earnings
      3          -          -  
       
Tax credits
      (43 )         (48 )         (57 ) 
       
Other taxes
      (46 )         38          (2 ) 
       
Adjustments to prior years
      12          (15 )         (12 ) 
       
Change in uncertain tax positions
      (0 )         (16 )         -  
       
Changes in deferred tax assets as a result of recognition / write off of previously not recognized / recognized tax losses, tax credits and deductible temporary differences
      8          (5 )         12  
       
Non-recognition
of deferred tax assets
      9          9          7  
       
Tax effect of (profit) / losses from joint ventures and associates
      (19 )         (18 )         (17 ) 
       
Other
      (8 )         (5 )         (4 ) 
 
   
 
(189
) 
     
 
(136
) 
     
 
(118
) 
Income tax for the period (result) / charge
   
 
(518
) 
     
 
95
 
     
 
(336
) 
 
1
 
Amounts for 2021 and 2020 have been
re-presented
to reflect the classification of Aegon the Netherlands as held for sale and discontinued operations, refer to note 51 Discontinued operations.
 
The weighted average applicable statutory tax rate for 2022 is 21.3% (2021: 19.9%, 2020: 22.8%). The weighted average applicable statutory tax rate increased compared to 2021 due to the relatively high contribution of income before tax in the Netherlands versus high negative income in the United States and income from equity accounted joint ventures and associates which is presented net of tax in the consolidated income statement. Furthermore, the weighted average applicable statutory tax rate is impacted by the accounting for discontinued operations including intercompany transactions, refer to note
51 Discontinued operations.
Non-taxable
income in 2022 is comprised of the regular
non-taxable
items such as the dividend received deduction in the United States and the participation exemption in the Netherlands. Compared to 2021
non-taxable
income increased due to more exempt income in the Netherlands.
In the Netherlands, the enacted corporate income tax rate increased from 25% to 25.8% as from January 1, 2022 which resulted in a favorable tax rate impact in 2021. In the United Kingdom, the enacted future corporate income tax rate will increase from 19% to 25% as of April 1, 2023 which resulted in a beneficial tax rate impact in 2021 and 2022.
Tax credits mainly include tax benefits from United States investments that provide affordable housing to individuals and families that meet median household income requirements.
Other taxes are lower compared to 2021 due to unfavorable equity and bond markets which yielded lower policyholder taxes in the United Kingdom and state tax benefits in the United States due to negative income.
In 2021, changes in uncertain tax positions relate to a partial release of certain reassessed tax provisions in the United States.
The following tables present income tax related to components of other comprehensive income and retained earnings.
 
               
            2022
                  2021 
1)
                  2020 
1)
  
Items that will not be reclassified to profit and loss:
                                      
Changes in revaluation reserve real estate held for own use
                 -        1        (2 ) 
         
Remeasurements of defined benefit plans
   
 
 
 
        (5 )       (78 )       14  
               
 
(5
) 
   
 
(77
) 
   
 
12
 
         
Items that may be reclassified subsequently to profit and loss:
                                      
         
(Gains) / losses on revaluation of
available-for-sale
investments
                 2,802        269        (635 ) 
         
(Gains) / losses transferred to the income statement on disposal and impairment of
available-for-sale
investments
                 (121 )       71        (1 ) 
         
Changes in cash flow hedging reserve
                 42        47        54  
         
Movement in foreign currency translation and net foreign investment hedging reserve
   
 
 
 
        (12 )       3        (7 ) 
 
   
 
 
 
     
 
2,710
 
   
 
390
 
   
 
(589
) 
Total income tax related to components of other comprehensive income
   
 
 
 
     
 
2,706
 
   
 
313
 
   
 
(577
) 
1
Amounts for 2021 and 2020 have been
re-presented
to reflect the classification of Aegon the Netherlands as held for sale and discontinued operations, refer to note 51 Discontinued operations.
 
 
               
2022
      2021      2020  
Income tax related to equity instruments and other
                              
         
Income tax related to equity instruments
   
 
31
 
        2        13        18  
         
Other
   
 
 
 
        1        3        1  
Total income tax recognized directly in retained earnings
   
 
 
 
     
 
3
 
   
 
16
 
   
 
19
 
Aegon N.V [member]  
Statement [LineItems]  
Income tax
7 Income tax
 
     
                2022
                         2021  
     
Current Tax
                 
     
Current Tax
      47         54    
     
Income tax for the period (result) / charge
   
 
47
 
  
 
54
 
     
Reconciliation between standard and effective tax
                 
     
Result before tax
      (204 )      (193 ) 
     
Tax on result at Dutch corporate result tax rate
      53       48  
     
Differences due to the effect of:
                 
     
Tax rate changes
      -       4  
     
Change in uncertain tax positions
      -       8  
     
Non deductible expenses
      (7 )      (7 ) 
     
Total
   
 
47
 
  
 
54